Alliant Energy (NASDAQ:LNT) Price Target Raised to $65.00

Alliant Energy (NASDAQ:LNT) had its price objective raised by UBS Group from $64.00 to $65.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently weighed in on LNT. Scotiabank increased their price target on Alliant Energy from $58.00 to $64.00 and gave the stock a sector outperform rating in a research report on Tuesday, August 20th. Barclays increased their target price on Alliant Energy from $52.00 to $55.00 and gave the stock an equal weight rating in a research report on Thursday, July 11th. BMO Capital Markets boosted their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the company a market perform rating in a report on Tuesday, August 6th. Wells Fargo & Company increased their price objective on shares of Alliant Energy from $56.00 to $62.00 and gave the stock an overweight rating in a report on Monday, August 5th. Finally, LADENBURG THALM/SH SH raised shares of Alliant Energy from a neutral rating to a buy rating and boosted their target price for the company from $50.00 to $62.50 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $60.17.

Alliant Energy Stock Performance

Shares of LNT opened at $59.72 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy has a 12-month low of $45.15 and a 12-month high of $60.67. The business’s fifty day moving average price is $57.27 and its 200 day moving average price is $52.65. The stock has a market capitalization of $15.31 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.07). The business had revenue of $894.00 million during the quarter, compared to analyst estimates of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Alliant Energy will post 3.07 EPS for the current year.

Alliant Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.92 annualized dividend and a yield of 3.22%. Alliant Energy’s payout ratio is 69.82%.

Institutional Trading of Alliant Energy

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Alliant Energy by 10.3% during the first quarter. Janus Henderson Group PLC now owns 10,579,475 shares of the company’s stock worth $533,205,000 after purchasing an additional 984,963 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Alliant Energy by 6.2% in the fourth quarter. Cohen & Steers Inc. now owns 3,651,565 shares of the company’s stock valued at $187,325,000 after buying an additional 213,522 shares during the period. Mairs & Power Inc. lifted its holdings in shares of Alliant Energy by 2.2% in the fourth quarter. Mairs & Power Inc. now owns 3,173,484 shares of the company’s stock valued at $162,800,000 after buying an additional 67,550 shares during the period. Northern Trust Corp boosted its stake in Alliant Energy by 2.3% during the fourth quarter. Northern Trust Corp now owns 2,491,130 shares of the company’s stock valued at $127,795,000 after buying an additional 55,131 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in Alliant Energy by 1.7% in the second quarter. Johnson Investment Counsel Inc. now owns 1,756,533 shares of the company’s stock worth $89,408,000 after acquiring an additional 29,358 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.

Alliant Energy Company Profile

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.